As a fishing firm hires its first, second, and third workers, it could find that marginal product actually rises. The reason for this is:
a. diminishing returns have set in.
b. the division of labor creates greater productivity.
c. the firm has hired another boat.
d. all tasks are shared by all workers.
e. less qualified workers are becoming available.
b
Economics
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A price ceiling
A) is an illegal price. B) is the price that exists in a black market. C) is the maximum price that can legally be charged. D) Both answers A and B are correct. E) Both answers B and C are correct.
Economics
International financial flows have changed in meaningful ways, and these changes were brought to the attention of policy makers by the Asian financial crisis. Describe three changes
What will be an ideal response?
Economics